In this article we presented our list of the 10 best solar energy stocks to buy now. Click to skip ahead and jump to 5 Best Solar Energy Stocks To Buy Now.
Buying solar energy stocks is not always as straightforward as it should be. With so many choices, investors are really confused and they want to catch up with growing investor interest and sky-high stock returns. Now, we take a closer look at the solar energy sector and stocks.
Investing in Renewable Energy has never been so important. As society faces climate change and its consequences, businesses have to put a lot of effort in to meet compliance requirements. One way is doing this is by increasing the usage of renewable resources to meet the energy demand. Besides, governments support renewable energy generation to reach their net-zero emission targets. As a result, companies are taking advantage of this interest and the number of renewable energy companies is skyrocketing. Not only does the sector focus on PV systems, but also solar thermal applications besides manufacturing components, installation, and operating services.
There is no doubt that Biden’s administration will support the renewable energy sector as he announced ‘9 Key Elements for a Clean Energy Revolution’. The hearth of the plan and probably the most exciting part is that putting America on a path to achieve net-zero emissions no later than 2050. Furthermore, the USA will likely spend $400 billion over ten years on clean energy and innovation in accordance with his statement. Precisely, solar energy is going to be very much part of this policy.
According to International Energy Agency (IEA), “power generation from solar PV is estimated to have increased by 22% in 2019, to 720 TWh. With this increase, the solar PV share in global electricity generation is now almost 3%”. IEA is also expecting that Solar PV electricity generation capacity will go up by 19.2% in 2022. Furthermore, Solar PV will account for 55% of total renewable electricity production in the same period. According to IEA, ‘Average annual solar PV capacity additions during 2023‑25 are expected to range from 130 GW in the main case to 165 GW in the accelerated case, accounting for almost 60% of total renewable energy expansion.’
With all the positive reviews and news, it sounds like a good idea to invest in solar energy stocks that are prioritizing cash generation and have healthy balance sheets. The finance sector has already tailored itself to the new solar revolution through ETFs. Consequently, energy ETFs captured the attention of investors. In order to come up with the 10 best solar energy stocks to buy now, we identify the publicly traded solar energy stocks that are in Invesco Solar ETF (TAN) and ranked them using Insider Monkey’s hedge fund sentiment data.
Why do we believe hedge fund sentiment data will help us identify the best solar energy stocks to buy now? Our in-house analysis shows that we can use the sentiment…
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